Denali Advisors LLC Has $542,000 Stake in Snap-On Incorporated (NYSE:SNA)

Denali Advisors LLC reduced its position in shares of Snap-On Incorporated (NYSE:SNA - Free Report) by 36.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,607 shares of the company's stock after selling 902 shares during the period. Denali Advisors LLC's holdings in Snap-On were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new stake in Snap-On in the first quarter valued at $25,000. Golden State Wealth Management LLC increased its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its position in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company's stock valued at $34,000 after acquiring an additional 72 shares during the period. Opal Wealth Advisors LLC acquired a new position in Snap-On in the 1st quarter valued at about $35,000. Finally, CoreFirst Bank & Trust acquired a new position in Snap-On in the 4th quarter valued at about $40,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Up 1.2%

NYSE SNA traded up $4.08 during trading hours on Tuesday, hitting $332.47. The company had a trading volume of 170,415 shares, compared to its average volume of 369,745. Snap-On Incorporated has a fifty-two week low of $266.56 and a fifty-two week high of $373.90. The company has a market capitalization of $17.34 billion, a price-to-earnings ratio of 17.69, a P/E/G ratio of 2.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The firm's 50 day moving average is $318.89 and its 200 day moving average is $327.69.

Snap-On (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%. The firm had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period in the prior year, the firm earned $5.07 EPS. The firm's quarterly revenue was up .0% compared to the same quarter last year. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th were given a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 dividend on an annualized basis and a yield of 2.57%. Snap-On's payout ratio is currently 45.65%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SNA. Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research note on Friday, May 16th. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a research note on Tuesday, July 15th. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 target price on the stock in a research note on Monday, March 31st. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday. Finally, Robert W. Baird set a $347.00 target price on Snap-On and gave the company a "neutral" rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Snap-On presently has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Insiders Place Their Bets

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 5,553 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer owned 109,560 shares in the company, valued at $35,808,590.40. The trade was a 4.82% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 29,815 shares of company stock valued at $9,482,532 over the last quarter. Insiders own 3.90% of the company's stock.

Snap-On Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.